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Chapter 1

This document discusses the economic function of transport. It begins by defining key terms like transport, economy, and economic development. Economic development refers to improving a nation's standard of living through sustained growth from a low-income to modern high-income economy. The document then discusses elements of economic development like employment, population, and economic activities. It also discusses the basic economic problem of what and how to produce, and for whom. Next, it covers the role of transport in economic development. Transport contributes to economic growth by providing access to labor, suppliers and customers. It also saves time, increases distances traveled, and enables firms to widen their markets. Improving transport infrastructure can attract investment and increase trade volumes.

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mohdzafri16
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7 views21 pages

Chapter 1

This document discusses the economic function of transport. It begins by defining key terms like transport, economy, and economic development. Economic development refers to improving a nation's standard of living through sustained growth from a low-income to modern high-income economy. The document then discusses elements of economic development like employment, population, and economic activities. It also discusses the basic economic problem of what and how to produce, and for whom. Next, it covers the role of transport in economic development. Transport contributes to economic growth by providing access to labor, suppliers and customers. It also saves time, increases distances traveled, and enables firms to widen their markets. Improving transport infrastructure can attract investment and increase trade volumes.

Uploaded by

mohdzafri16
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 21

ECO N O M I CS F U N C T I O N OF

TRANSPORT
CHAPTER 1

Miss Madiha binti Badrol Kamar


1.1 What is Economic Development?

Elements of Economic
1.2
Development

CO N T E N T
Role of Transport in Economic
1.3
Development

Economic Characteristics of
1.4 Transport- Derived demand,
physical, mode
1.1 What is Economic Development?

- Definition of t r a n s p o r t
- Definition of economy
- What is “economic development?”
1.1 What is Economic Development?

D E F I N I T I O N OF TRANSPORT
Is a mo v e me n t of people a n d goods from point of origin to a
point of destination (co n sumptio n)

D E F I N I T I O N OF E CO N O M Y
A s t u d y of how people u s e t h e i r limited r e s o u rce s to fulfil
unlimited w a n t s a n d involves altern ativ e o r choice
1.1 What is Economic Development?

TRANSPORT ECONOMY:

Refers to the scarce managing resources to fulfill unlimited demand,


and it starts from choosing the right transportation, referring to the
right amount of goods being carried to the correct physical characteristics
of products being delivered on a stipulated given mode
1.1 What is Economic Development?

“Is t h e in crease in t h e s t a n d a r d of living of a nation’s population


with s u s t ai n ed g ro wth from a simple, low-income economy to a
mo d ern , high-income economy”

“Its scope includes t h e process a n d policies by which a


n at i o n improves economic, political a n d social well-being of
its people”

“economics development is t h e
changes in economy activities from
t h r o u g h o u t mo d ern i sati on to
ma i n t ai n positive g ro wt h of t h e
nation’s income, wealth a n d
s t a n d a r d of living of its people in
c o n t r a s t to t h e previous economic
level”
1.2 Elements of Economic Development

- What a r e t h e e l e me n t s ?
1.2 Elements of Economic Development

Employment Population

Economic Activities Land use

Congestion
1.2 Elements of Economic Development
1.2 Elements of Economic Development
1.2 Elements of Economic Development
1.2 Elements of Economic Development
1.2 Basic Economic Problem

What to produce?

; should we p roduce mo r e b u s o r build mo r e highway?

How to produce?

; refer to t h e ch eap est me t h o d of producing goods a n d services

For whom to produce?


; refers to t h e distribution. How t h e national income
d istrib u ted ?

;
Role of Transport in Economic
1.3 Development
- How t r a n s p o r t contribute to economy?
- I m p o r t a n t of t r a n s p o r t i n f r a s t r u c t u r e
- The economic function of t r a n s p o r t
Role of Transport in Economic
1.3
Development

HOW TRANSPORT CONT RI BUTE TO E C O N O M Y ?

- Stipulate economic g r o w th
- High quality access to labor, supplier a n d cu s t o mer
- Time saving especially journey af t er t h e r o ad i mp r o v emen t
- Distance travelled increase
- Changes in modal split
- Enable firms to widen t h e m a r k e t
- Equalize t h e supply of commodities to g r e a t e r geographical
areas
- Making man u f act u r i n g of goods a t mo s t economical place
Role of Transport in Economic
1.3
Development

I M PORTANT OF TRANSPORT I N F R A S T RU C T U R E

- Facilitate i n t eg r at ed s y s t e m
- Seamless jo urney
- J u s t In Time ( J I T )
- At t r act i n v es t men t
- Tr ad e volume increase by two t h i r d if a c o u n t r y improves its
infrastructure
Role of Transport in Economic
1.3 Development
Role of Transport in Economic
1.3 Development
Role of Transport in Economic
1.3 Development
ECONOMIC C H A R A C T E R I S T I C S OF
TRANSPORT- D E R I V E D D E M A N D ,
1.4
PHYSICAL, MODE
- What is derived d e m a n d ?
- What is physical?
- What is mo d e ?
ECONOMIC C H A R A C T E R I S T I C S OF
TRANSPORT- D E R I V E D D E M A N D ,
1.4
PHYSICAL, MODE

DERIVED DEMAND PHYSICAL MODE

People d e m a n d ??? ???


t r a n s p o r t for working
p u rp o se

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